Pfizer chief McKinnell meets PM

Pfizer chairman Hank McKinnell, who heads the world's largest pharmaceutical company, today met prime minister Manmohan Singh and other senior ministers and raised concerns about a proposed government move to regulate prices of patented drugs.

McKinnell, who has been in India since Monday, also met with chemicals and fertiliser minister Ram Vilas Paswan and commerce and industry minister Kamal Nath.

The meetings assume significance in the backdrop of the government proposing mandatory price negotiations on patented drugs that were launched in India after January 1, 2005, as per the draft national pharmaceutical policy.

McKinnell raised intellectual property rights issues, including data exclusivity, in his meeting with commerce and industry minister Kamal Nath, official sources said.

The debate on data exclusivity has been simmering, as the committee set up to look into the issues has completed its discussion and is expected to submit its report shortly.

Data exclusivity is the period in which drug manufacturers cannot rely on the data of the brand-name drug to register a generic equivalent.

The domestic lobby has been vehemently opposing it, while the multinational companies, including Pfizer, argue that it would lead to increased investment on research and development in the Indian pharmaceutical sector.

A company spokesperson said: "McKinnell has come to India to speak at the Indian Institute of Science Bangalore and review Pfizer's business in India and meet with officials on the opportunities India have in medical innovation in the right policy environment."